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August 1, 2022 -

BNP Paribas Cardif Life Insurance expanded bancassurance distribution channel with BNK KyongNam Bank

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BNP Paribas Cardif Life Insurance announced that it has signed a bancassurance partnership agreement with BNK KyongNam Bank, and started to offer ‘(NP) Safe Dream Personal Accident Insurance’ through BNK KyongNam Bank’s 132 branches (as of the end of March 2022).

BNP Paribas Cardif Life Insurance is the life insurance subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas.

‘(NP) Safe Dream Personal Accident Insurance’ is a ROP (return of premium) type of insurance which guarantees a death benefit as well as the return of paid insurance premiums at the time of death. In case that no accident has occurred at the time of maturity, 100% of paid insurance premiums will be paid back.

Both corporate and individual customer can subscribe, so individuals can prepare for unexpected accidents in their daily life, and corporates can prepare for the risk of CEO absence due to accidents.

Customers have the choice between two types of coverage: <PA death protection> and <General PA protection>. If a customer select <PA death protection>, ‘KRW 300 million + insurance premium paid at the time of death’ in case of death from a traffic accident, and ‘KRW 200 million + insurance premium paid at the time of death’ in case of death due to a general accident other than a traffic accident (Face amount of KRW 100 million). If a customer select <General PA protection>, he/she will be guaranteed coverage for disability, surgery and fracture treatment in addition to death from traffic and non-traffic accidents. Along with its non-renewable nature, this product lowers the burden of increasing insurance premiums. In addition, customers can receive annuity in preparation for their post-retirement life by selecting the annuity conversion rider.

Park Bong-soo, Chief Sales Officer of Bancassurance Department at BNP Paribas Cardif Life Insurance said, “‘(NP) Safe Dream Personal Accident Insurance’ prepares for unexpected accidents and provides 100% of the premiums paid at maturity, providing customers with more peace of mind. Through the recent partnership between BNP Paribas Cardif Life Insurance and BNK KyongNam Bank, we hope that this product will be a reliable safety net for customers in Kyongnam region as well.”

‘(NP) Safe Dream Personal Accident Insurance’ can be purchased from the age of 25 to 70 with the insurance period of 3 years / 5 years / 10 years (Regular or Single Payment). The face amount of insurance can be up to KRW 100 million for both <PA death protection> and <General PA protection> types.

After subscribing to ‘(NP) Safe Dream Personal Accident Insurance’, customers can view and manage their comprehensive financial assets, including insurance, through the ‘MY Assets’ service of BNK KyongNam Bank’s mobile banking app.